When an application gets to a certain final status (eg formally approved), a lender might want Omni to trigger a set of automated checks or activities before moving on to the Settlement workflow. eg:
Refresh the product (and rates, repayments etc) to check for any changes now that the application is formally approved
Lock the application data now that the application is formally approved (no more changes allowed)
Create accounts in the Core Banking platform so that these account numbers can be included in the Solicitors instructions
etc
Configure your Unconditional Approval Process
The activities can be set to be run in sequential order, meaning that if an activity relies on another already having been completed, you are able to ensure this. As an example of this Process:
First | Finalise Application | This will lock the application data so that it can no longer be edited |
Then | Refresh Product | The Product data (eg interest rate) will be checked for any updated data |
Then | Repayment Calculation | After the Refresh Product check is completed, the repayment calculation will be re-run and reset where needed |
Then | Send Alert | IF the Repayment Calculation is updated, an alert may be sent to interested parties |
Then | Account Creation | Then an API call is made to the Core Banking platform, to create accounts for the new mortgagees |
⚙️ The configuration of this Process is currently able to be done only by the Simpology team.
Set the sub-status trigger
If you have configured an Unconditional Approval Process in your workflow, you need to nominate which sub-status will trigger this process. To do this, go to Account/Setup/ Application status setup:
Find the status you would like to trigger the Process and click edit:
And in the sub-status setup, tick "Trigger unconditional approval process"
Click Save.
The Unconditional Approval Process will now automatically trigger when the sub-status of an application becomes Formal Approval Granted.